NTSA Net Staff
By NTSA Net Staff 5/7/2015
The IRS has put in place new ways to correct elective deferral errors in 403(b) and 401(k) plans. The IRS on May 6 updated its webpage concerning these corrections; it also included coverage of these changes in Issue 2015-5 of Employee Plans News.These methods are contained in Revenue Procedure (...
READ MORE
By NTSA Net Staff 5/5/2015
The National Tax-deferred Savings Association has announced the semifinalists for its prestigious NTSA Elite Advisor Award.Established in 2014, the NTSA Elite Advisor Award recognizes the contributions of advisors who, by their actions and example, have advanced best practice standards in the 403(b...
READ MORE
By NTSA Net Staff 5/4/2015
Financial advisors may find themselves discussing the adoption and implementation of top hat plans with one of the people who would most benefit from such a plan, says Ellie Lowder. In MarketBeat, she provides a discussion about the fundamentals of top hat plans and what interested financial...
READ MORE
By NTSA Net Staff 5/4/2015
Suppose an employee is leaving one employer and is eligible to receive a distribution from that employer’s 403(b). Can the former employer control where the employee’s 403(b) is rolled? In Tech Talk, Ellie Lowder tells us.
READ MORE
By NTSA Net Staff 4/29/2015
Sen. Elizabeth Warren (D-Mass.) announced April 28 that she has launched an investigation into the rewards and incentives that annuity providers offer to brokers and dealers who sell annuities to families and small investors.In letters sent to 15 of the country's largest annuity providers, Warren...
READ MORE
By NTSA Net Staff 4/29/2015
It’s no secret that in the private sector, defined contribution plans have expanded while defined benefit plans have declined. But a recent Federal Reserve report says that state and local governments are increasingly turning to DC plans as well.In “Defined-Contribution Pension Plans for State and...
READ MORE
By NTSA Net Staff 4/28/2015
The Department of Labor (DOL) on April 14 released proposed regulations redefining what it means to be a fiduciary under ERISA. The regulations raise many questions for many retirement plan professionals — including 403(b) and 457 advisors, as well as those who work with IRAs.In a new podcast on...
READ MORE
By NTSA Net Staff 4/28/2015
The Department of Labor (DOL) should issue clarifying guidance on the proper treatment of distributed contracts and custodial accounts in the context of a 403(b) plan termination, the NTSA Government Affairs Committee recommended in a recent comment letter to the DOL’s Employee Benefit Security...
READ MORE
By NTSA Net Staff 4/28/2015
Advisors working in the ERISA 403(b) marketplace often are asked to help plan sponsors meet their fiduciary duties under ERISA. In MarketBeat, Diane Capone provides some basics on the process an ERISA fiduciary plan sponsor needs to follow in order to comply with their obligations to the plan.
READ MORE
By NTSA Net Staff 4/24/2015
Is there a difference between 403(b)(1) annuities and 403(b)(7) custodial accounts regarding withdrawal restrictions? In Tech Talk, Ellie Lowder explains how the rules work.
READ MORE
By NTSA Net Staff 4/24/2015
The Department of Labor will not extend the 75-day comment period for its conflict-of-interest rule, Labor Secretary Thomas Perez said April 23.Asked about his response to requests by industry groups to extend the comment period, ThinkAdvisor reports that Perez said: “The comment period is 75 days...
READ MORE
By NTSA Net Staff 4/21/2015
In the summer of 1993, Sgt. Keni Thomas was deployed to Mogadishu, Somalia with the 3rd Ranger Battalion as part of an elite special operations package called Task Force Ranger. As those who have read the book or seen the movie “Black Hawk Down” know, their mission was to find and capture a...
READ MORE
By NTSA Net Staff 4/21/2015
As the Illinois Supreme Court considers the constitutionality of the state’s pension plan reform law and Gov. Bruce Rauner (R) considers proposing a 401(k)-style pension plan for many government employees, local cities must address immediate challenges posed by their pension plans. Rauner’s...
READ MORE
By NTSA Net Staff 4/21/2015
One aspect of 403(b) plans that is not easily understood is the correction deadline for the actual contribution percentage (ACP) non-discrimination test. In this week’s MarketBeat, Farhad Mirzada provides an overview of the penalty-free and statutory deadlines for corrections for failed tests.
READ MORE
By NTSA Net Staff 4/16/2015
Suppose a former employee of a school district wants to roll over her old 403(b) into her 403(b) at the school district where she now works, but the former employer says she cannot. In Tech Talk, Ellie Lowder tells us whether the former employer can do that.
READ MORE
By NTSA Net Staff 4/16/2015
The Department of Labor’s long-awaited fiduciary reproposal claims to protect consumers from “conflicts of interest” in retirement advice — but at what cost?While initial concerns about preserving the ability for 401(k) participants to work with the advisor of their choice on rollovers appear to be...
READ MORE
By NTSA Net Staff 4/14/2015
Many states and local government pension plans face funding challenges. At the same time, average longevity is increasing. Seems logical that retirees living longer would exacerbate those funding woes, but a recent study by the Center for State and Local Government Excellence, “How Will Longer...
READ MORE
By NTSA Net Staff 4/9/2015
The IRS recently updated the Employee Plans Compliance Resolution System (EPCRS), a means to correct plan defects. In this week’s MarketBeat, Michael Webb examines the changes made to EPCRS and discusses their specific impact (or lack thereof) on 403(b)/457(b) plan sponsors.
READ MORE
By NTSA Net Staff 4/9/2015
The Treasury Inspector General for Tax Administration (TIGTA) recently issued a report on the results of its audit of how well the IRS identifies and addresses excess contributions to IRAs. It also made recommendations regarding how the IRS can do a better job.IRA holders can only make...
READ MORE
By NTSA Net Staff 4/9/2015
Can an employer transfer 403(b) transfer assets (including active loans) for active and terminated participants to a 401(k) without terminating the 403(b)? In this week’s Tech Talk, Ellie Lowder tells us.
READ MORE
Pages
Advertisement